Micropayments are alive and well, but their future is still uncertain. Will their adoption involve evolution or an online revolution?
“ChangeTip is hoping to drive mass adoption of micropayments on the web by using Bitcoin plus existing social networks as the medium to deliver feeless micro donations to content creators. Which means part of its mission is “to spell the end of clickbait“. And that’s something anyone who spends time online should really be rooting for.
Those who want a better business model for online content, i.e. one that isn’t based on increasingly invasive surveillance and increasingly insidious advertising, have long held up the hope that micropayments could power an alternative rewards-based system, where the cumulative act of lots of users donating small amounts to the services they use and love adds up to something substantial. It’s a great idea in principle but in practice there are ongoing barriers to creating a web powered by micropayments — transaction fees being one of the biggest.”
Thanks to TechCrunch